Consumer and retail news: 10 things you need to know today
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1. Chipotle might be launching a burger chain Chipotle filed a trademark application for the phrase "Better Burger" this month. The chain could be a competitor to higher-end burger chains like Shake Shack and Five Guys.
2. Costco's new credit card has some of the best rewards in the market
Costco ended a 16-year deal with American Express to switch over to Visa. The new Costco Visa card will offer 4% cash back on eligible gas purchases (on up to $7,000 per year, then 1% back), 3% back on restaurant and travel purchases, 2% back on Costco and Costco.com purchases, and 1% back everywhere else.
3. SONIC CEO: There's 'no doubt' customers will pay more because of minimum wage hikes
As locations from Chicago to California enforce higher minimum wages, Sonic's CEO Clifford Hudson thinks these wage increases will lead to higher prices.
4. McDonald's is making a big push in Asia
McDonald's plans to add more than 1,500 restaurants in China, Hong Kong, and South Korea in the next five years.
5. Lululemon has a plan to fire back at Under Armour
One huge factor in Lululemon's exponential growth is its ever-expanding men's business. This is hugely important, as one of Lululemon's rising competitors, Under Armour, announced plans to expand its women's line.
6. Kellogg's has a plan to revive the cereal market
Kellogg's will put start selling snack foods to appeal to millennials, reports Fortune.
7. PepsiCo announces new leadership roles at the company
PepsiCo announced that Al Carey will be promoted to CEO of PepsiCo North America, Fortune has reported.
8. Glamour announces partnership with Lane Bryant
Glamour announced that it has teamed up with Lane Bryant to appeal to the plus-size market and to send a message of body positivity, reports Racked.
9. Shark Tank lemonade entrepreneur lands Whole Foods deal
Bee Sweet Lemonade, founded by 11-year-old Shark Tank contestant Mikaila Ulmer, will be sold in 55 Whole Foods locations, Grub Street reports.
10. Coke begins next phase of "share a coke" campaign
Coke will put song lyrics from more than 70 popular songs on its cans, Ad Age reports.